Mashreq
MASQ
MASQ
Finance House
FH
FH
Emirates Islamic
EIB
EIB
Emirates NBD
EMIRATESNBD
EMIRATESNBD
ADCB
ADCB
ADCB
DXB Entertainments
DXBE
DXBE
UNB
UNB
UNB
ADIB
ADIB
ADIB
The initial public offering (IPO) of Dubai Parks and Resorts is set to commence today, Monday, on the Dubai Financial Market (DFM) and to end on November 30, 2014 for the first tranche, while the second tranche is set to conclude on November 27, according to the Company’s IPO prospectus published on its official website.
Dubai Parks, a company under incorporation and a subsidiary of Meraas Holding, will offering 2.53 billion shares representing 40% of the Company’s capital at AED 1 per share added to 0.01 issuance fees.
The IPO is divided on three tranches, the first will be offered to individuals of various nationalities. Shares in this tranche reach 252.9 million shares representing 10% of the offered shares, with a minimum subscription of 5,000 shares.
The second tranche is for a set number of juridical persons and high net worth individuals, with a minimum subscription application size of five million Shares. The offering in this tranche amounts to 25% of shares offered in the IPO.
Finally, the third tranche represents qualified investment institutions and entails 1517.2 million shares, representing 60% of the shares offered in the IPO.
Furthermore, the Emirates Investment Authority (EIA) has the right to subscribe to up to five percent of IPO shares. Should the EIA decide not to subscribe, its shares will be made available to natural personal on the basis described in the first tranche.
The minimum subscription for the Qualified Institutional Offering (third tranche) will require a minimum subscription application size of 10 million shares.
Dubai-based Emirates NBD will act as Lead Receiving Bank in the IPO, added to other Receiving Banks and Financial Institutions, which are: Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Emirates Islamic Bank (EIB), Finance House (FH), Mashreqbank, Noor Bank and Union National Bank (UNB).
Dubai Parks and Resorts’ IPO will comprise 2,528,731,083 ordinary shares, representing 40% of the theme-park Company. Moreover, the total size of the offer amounts to AED 2.5 billion which, when added to the ordinary shares to be applied for by Meraas Holding , will result in a total market capitalisation on listing of around AED 6.3 billion.
Dubai Parks, a company under incorporation and a subsidiary of Meraas Holding, will offering 2.53 billion shares representing 40% of the Company’s capital at AED 1 per share added to 0.01 issuance fees.
The IPO is divided on three tranches, the first will be offered to individuals of various nationalities. Shares in this tranche reach 252.9 million shares representing 10% of the offered shares, with a minimum subscription of 5,000 shares.
The second tranche is for a set number of juridical persons and high net worth individuals, with a minimum subscription application size of five million Shares. The offering in this tranche amounts to 25% of shares offered in the IPO.
Finally, the third tranche represents qualified investment institutions and entails 1517.2 million shares, representing 60% of the shares offered in the IPO.
Furthermore, the Emirates Investment Authority (EIA) has the right to subscribe to up to five percent of IPO shares. Should the EIA decide not to subscribe, its shares will be made available to natural personal on the basis described in the first tranche.
The minimum subscription for the Qualified Institutional Offering (third tranche) will require a minimum subscription application size of 10 million shares.
Dubai-based Emirates NBD will act as Lead Receiving Bank in the IPO, added to other Receiving Banks and Financial Institutions, which are: Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Emirates Islamic Bank (EIB), Finance House (FH), Mashreqbank, Noor Bank and Union National Bank (UNB).
Dubai Parks and Resorts’ IPO will comprise 2,528,731,083 ordinary shares, representing 40% of the theme-park Company. Moreover, the total size of the offer amounts to AED 2.5 billion which, when added to the ordinary shares to be applied for by Meraas Holding , will result in a total market capitalisation on listing of around AED 6.3 billion.
Source:
Mubasher
